Why You Need an Insurance Survey (C&V)

A Condition & Valuation (C&V) survey, commonly known as an insurance survey, is a requirement for many boat owners—especially those with vessels older than 10-15 years or high-value yachts. But what exactly is it, and why do insurers demand it?

What is a C&V Survey?

Think of it as a comprehensive health check for your boat. The primary purpose is to satisfy the insurance underwriter that the vessel is structurally sound, safe for its intended use, and valued correctly for replacement or agreed value policies.

Key Areas Inspected

• Structural Integrity: Hull, deck, bulkheads, and stringers are checked for rot, delamination, or voids.
• Safety Equipment: Fire extinguishers, flares, life jackets, bilge pumps, and navigation lights must meet Coast Guard or Transport Canada requirements.
• Systems: Electrical wiring (AC/DC), fuel systems, thru-hulls, seacocks, and propulsion are inspected for compliance with ABYC/NFPA standards.
• Fair Market Value: We research recent sales of comparable vessels to establish a defensible value for your policy.

Why It Matters

Without a current survey, your insurer is taking a blind risk. An undetected fuel leak could lead to a fire, or a rotten stringer could cause catastrophic failure at sea. The survey protects both the insurer and you, the owner, by identifying these hazards before they become claims.

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